Dubai: New project to link major roads increasing vehicle capacity from 1,800 to 4,000
Dubai’s Roads and Transport Authority (RTA) opens Saih Al-Dahal Road Improvement Project this May to increase road capacity from 1,800 to 4,000 vehicles The Saih Al-Dahal Road Improvement Project will link Saih Al-Salam Road with the Mohammed bin Rashid Al Maktoum Solar Park, increasing its vehicle capacity in each direction. RTA has highlighted that the […]
Dubai Mashreq Bank shareholders approve $1bln bond issuance
Shareholders of Dubai-based Mashreq Bank have approved a special resolution for the issuance of conventional bonds for up to $1 billion. The proceeds of the bonds will be used for regulatory capital purposes and to strengthen the group’s capital adequacy ratio, the bank said in a filing on the Dubai Financial Market (DFM) on Thursday. […]
Emirates Global Aluminium to supply solar aluminium to major parts maker HAI
Emirates Global Aluminium, the largest industrial company in the UAE and the world’s biggest ‘premium aluminium’ producer, has signed an agreement to supply CelestiAL solar aluminium to Mercedes-Benz parts maker Hammerer Aluminum Industries (HAI). The agreement will see EGA’s CelestiAL metal return to the UAE, as well as being distributed all over the world. EGA […]
Abu Dhabi Police muster $30.22mln from largest charity auction
Supporting the 1 Billion Meals initiative on Zayed Humanitarian Day, Abu Dhabi Police have mustered AED111 million ($30.22 million) at the second in-person Most Noble Numbers charity auction. The auction were held for special vehicle plate numbers and mobile numbers and the two-day 555 online charity auction. The proceeds from the charity auction series will […]
UAE’s AMEA Power wins contract to build two solar power projects in Morocco
The Moroccan Agency for Sustainable Energy (Masen) and the Ministry of Energy Transition and Sustainable Development have officially announced that the UAE-based AMEA Power has been awarded two solar power plant projects of 36MW each, following an international tender. The solar projects were part of a large international tender launched by Masen and the Ministry […]
NMC signs $11.2mln deal to renovate Riyadh Care Hospital
National Medical Care Company (NMC) has inked a contract to renew Riyadh Care Hospital at a value of SAR 42 million. The project, which will be carried out in several phases, comes in line with the Saudi listed company’s strategy to improve patient experience and journey, according to a recent bourse filing. NMC penned the […]
Emirates NBD affirms position as regional leader in innovation
Emirates NBD, a leading banking group in the Menat (Middle East, North Africa and Turkey) region, has affirmed its position as a regional leader in global banking innovation. Emirates NBD Group revealed its pioneering vision for the future of global banking at Expo 2020 Dubai. through its on-site presence ‘Future Banking by Emirates NBD and […]
UAE to launch treasury bonds with auction size of $408mln
The UAE is set to launch next month its domestic dirham-denominated treasury bonds with a benchmark auction size of 1.5 billion dirhams ($408 million). The first auction date, to be held in May 2022, will be announced soon, followed by a series of periodical auctions, the Ministry of Finance said in a statement on Wednesday. […]
Dubai hotel occupancy rate tops pre-Covid levels in Q4
The occupancy rate of hotels in Dubai during the fourth quarter of 2021 was 82 percent, compared to 63 percent and 80.6 percent during the same period in 2020 and 2019 respectively, a media report said. The easing of business closures and the decline in restrictions on international travel contributed to this, said the Central […]
Dubai residents can now reduce water, electricity bills with new smart tool
The Dubai Electricity and Water Authority (Dewa) has introduced a new tool that will allow residents to easily understand their consumption patterns and help reduce their utility bills. The Self-Assessment Tool, launched as part of Dewa’s Smart Living initiative, includes a survey on electricity and water consumption for customers to assess their consumption and learn […]